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GMRAIRPORT

Gmr Airports Limited
101.89 -1.63 (-1.57%)
L: 101.8 H: 104
Max Pain - GMRAIRPORT
17 Dec 2025 12:18 PM IST
Live


Strike  78  has a total call value of 0  versus a total put value of  170,693,595,000 Combined total value = 170,693,595,000

Strike  79  has a total call value of 0  versus a total put value of  163,115,955,000 Combined total value = 163,115,955,000

Strike  80  has a total call value of 0  versus a total put value of  155,538,315,000 Combined total value = 155,538,315,000

Strike  81  has a total call value of 697,500  versus a total put value of  147,985,087,500 Combined total value = 147,985,785,000

Strike  82  has a total call value of 1,395,000  versus a total put value of  140,431,860,000 Combined total value = 140,433,255,000

Strike  83  has a total call value of 2,092,500  versus a total put value of  132,888,397,500 Combined total value = 132,890,490,000

Strike  84  has a total call value of 2,790,000  versus a total put value of  125,344,935,000 Combined total value = 125,347,725,000

Strike  85  has a total call value of 3,487,500  versus a total put value of  117,802,170,000 Combined total value = 117,805,657,500

Strike  86  has a total call value of 7,672,500  versus a total put value of  110,259,405,000 Combined total value = 110,267,077,500

Strike  87  has a total call value of 11,857,500  versus a total put value of  102,723,615,000 Combined total value = 102,735,472,500

Strike  88  has a total call value of 16,042,500  versus a total put value of  95,192,707,500 Combined total value = 95,208,750,000

Strike  89  has a total call value of 21,622,500  versus a total put value of  87,667,380,000 Combined total value = 87,689,002,500

Strike  90  has a total call value of 29,992,500  versus a total put value of  80,211,105,000 Combined total value = 80,241,097,500

Strike  91  has a total call value of 70,447,500  versus a total put value of  72,938,272,500 Combined total value = 73,008,720,000

Strike  92  has a total call value of 114,390,000  versus a total put value of  65,695,432,500 Combined total value = 65,809,822,500

Strike  93  has a total call value of 166,702,500  versus a total put value of  58,506,997,500 Combined total value = 58,673,700,000

Strike  94  has a total call value of 221,805,000  versus a total put value of  51,368,782,500 Combined total value = 51,590,587,500

Strike  95  has a total call value of 283,882,500  versus a total put value of  44,414,707,500 Combined total value = 44,698,590,000

Strike  96  has a total call value of 503,595,000  versus a total put value of  37,846,350,000 Combined total value = 38,349,945,000

Strike  97  has a total call value of 770,737,500  versus a total put value of  31,553,505,000 Combined total value = 32,324,242,500

Strike  98  has a total call value of 1,207,372,500  versus a total put value of  26,128,350,000 Combined total value = 27,335,722,500

Strike  99  has a total call value of 1,780,717,500  versus a total put value of  21,543,682,500 Combined total value = 23,324,400,000

Strike  100  has a total call value of 2,552,850,000  versus a total put value of  17,706,037,500 Combined total value = 20,258,887,500

Strike  101  has a total call value of 3,878,100,000  versus a total put value of  14,747,940,000 Combined total value = 18,626,040,000

Strike  102  has a total call value of 5,605,807,500  versus a total put value of  11,999,092,500 Combined total value = 17,604,900,000

Strike  103  has a total call value of 8,184,465,000  versus a total put value of  9,575,977,500 Combined total value = 17,760,442,500

Strike  104  has a total call value of 11,148,142,500  versus a total put value of  7,408,147,500 Combined total value = 18,556,290,000

Strike  105  has a total call value of 14,727,015,000  versus a total put value of  5,551,402,500 Combined total value = 20,278,417,500

Strike  106  has a total call value of 19,915,717,500  versus a total put value of  4,201,740,000 Combined total value = 24,117,457,500

Strike  107  has a total call value of 25,737,052,500  versus a total put value of  3,092,715,000 Combined total value = 28,829,767,500

Strike  108  has a total call value of 32,184,742,500  versus a total put value of  2,220,142,500 Combined total value = 34,404,885,000

Strike  109  has a total call value of 39,442,927,500  versus a total put value of  1,501,717,500 Combined total value = 40,944,645,000

Strike  110  has a total call value of 47,371,410,000  versus a total put value of  890,010,000 Combined total value = 48,261,420,000

Strike  111  has a total call value of 58,080,825,000  versus a total put value of  507,082,500 Combined total value = 58,587,907,500

Strike  112  has a total call value of 69,384,510,000  versus a total put value of  403,852,500 Combined total value = 69,788,362,500

Strike  113  has a total call value of 81,043,920,000  versus a total put value of  313,177,500 Combined total value = 81,357,097,500

Strike  114  has a total call value of 92,952,337,500  versus a total put value of  223,897,500 Combined total value = 93,176,235,000

Strike  115  has a total call value of 104,982,120,000  versus a total put value of  156,937,500 Combined total value = 105,139,057,500

Strike  116  has a total call value of 117,724,050,000  versus a total put value of  117,877,500 Combined total value = 117,841,927,500

Strike  117  has a total call value of 130,643,842,500  versus a total put value of  87,885,000 Combined total value = 130,731,727,500

Strike  118  has a total call value of 143,668,260,000  versus a total put value of  58,590,000 Combined total value = 143,726,850,000

Strike  119  has a total call value of 156,934,012,500  versus a total put value of  29,295,000 Combined total value = 156,963,307,500

Strike  120  has a total call value of 170,199,765,000  versus a total put value of  0 Combined total value = 170,199,765,000

Strike  121  has a total call value of 183,950,977,500  versus a total put value of  0 Combined total value = 183,950,977,500

Strike  122  has a total call value of 197,702,190,000  versus a total put value of  0 Combined total value = 197,702,190,000

Max-Pain Table for Stocks
  Note:- click on symbol to see more detailed view
Max Pain Table (Stocks)
Symbol Symbol Ltp Max Pain
360ONE 1135.6 1140
ABB 5208.5 5200
ABCAPITAL 348.95 350
ADANIENSOL 988.6 990
ADANIENT 2240.5 2300
ADANIGREEN 1029 1020
ADANIPORTS 1486.7 1500
ALKEM 5640.5 5700
AMBER 6646.5 6800
AMBUJACEM 543.8 555
ANGELONE 2507.3 2600
APLAPOLLO 1747.5 1740
APOLLOHOSP 6974 7150
ASHOKLEY 165.47 160
ASIANPAINT 2777.7 2800
ASTRAL 1435.2 1460
AUBANK 995.65 960
AUROPHARMA 1189.3 1200
AXISBANK 1229.8 1240
BAJAJ-AUTO 8933 9000
BAJAJFINSV 2022.6 2060
BAJFINANCE 999.8 1020
BANDHANBNK 148.89 150
BANKBARODA 287.4 290
BANKINDIA 142.42 143
BDL 1333 1400
BEL 385.9 400
BHARATFORG 1410 1400
BHARTIARTL 2101.5 2100
BHEL 276.8 280
BIOCON 388.3 390
BLUESTARCO 1821.2 1780
BOSCHLTD 36030 36500
BPCL 366.75 365
BRITANNIA 6088 6000
BSE 2654 2700
CAMS 744.9 780
CANBK 150.4 150
CDSL 1483.4 1560
CGPOWER 678.95 680
CHOLAFIN 1684.4 1700
CIPLA 1494.1 1520
COALINDIA 383.85 384.75
COFORGE 1851.6 1840
COLPAL 2112.7 2180
CONCOR 497.7 520
CROMPTON 251.2 265
CUMMINSIND 4514 4500
CYIENT 1140.7 1160
DABUR 494.9 500
DALBHARAT 2067.7 2040
DELHIVERY 401.05 410
DIVISLAB 6319 6400
DIXON 13295 13750
DLF 681.75 710
DMART 3818.1 3900
DRREDDY 1278 1270
EICHERMOT 7157 7150
ETERNAL 285.05 295
EXIDEIND 362.2 375
FEDERALBNK 264.4 260
FORTIS 874.9 890
GAIL 169.22 175
GLENMARK 1953.8 1940
GMRAIRPORT 101.89 102
GODREJCP 1175.6 1160
GODREJPROP 2025.4 2080
GRASIM 2802.6 2800
HAL 4242.4 4500
HAVELLS 1399.4 1440
HCLTECH 1650.5 1660
HDFCAMC 2556.8 2620
HDFCBANK 983.2 1000
HDFCLIFE 749.8 770
HEROMOTOCO 5806 6000
HFCL 64.88 68
HINDALCO 846.9 820
HINDPETRO 468.5 460
HINDUNILVR 2270 2300
HINDZINC 582.6 550
HUDCO 208.91 220
ICICIBANK 1350.5 1370
ICICIGI 1940.1 1980
ICICIPRULI 632.3 630
IDEA 11.32 11
IDFCFIRSTB 83.83 82
IEX 141.19 145
IIFL 568.6 560
INDHOTEL 718.8 730
INDIANB 777.45 820
INDIGO 4977 5000
INDUSINDBK 835.85 850
INDUSTOWER 408.5 410
INFY 1600.2 1600
INOXWIND 126.72 130
IOC 168.33 166
IRCTC 668.55 690
IREDA 132.47 140
IRFC 111.48 116
ITC 400 405
JINDALSTEL 1006.7 1030
JIOFIN 293.7 305
JSWENERGY 481.95 490
JSWSTEEL 1085.2 1130
JUBLFOOD 553 580
KALYANKJIL 474.9 480
KAYNES 4184 4400
KEI 4097.4 4100
KFINTECH 1034.9 1060
KOTAKBANK 2169.7 2160
KPITTECH 1170 1200
LAURUSLABS 1011.7 1000
LICHSGFIN 526.1 550
LICI 847 870
LODHA 1069.1 1100
LT 4058.9 4040
LTF 302.45 302.5
LTIM 6243.5 6150
LUPIN 2116.4 2080
M&M 3604.4 3650
MANAPPURAM 284.85 280
MANKIND 2096 2200
MARICO 739.2 740
MARUTI 16414 16300
MAXHEALTH 1040.7 1100
MAZDOCK 2381.3 2500
MCX 10118 10100
MFSL 1643.7 1680
MOTHERSON 119.88 116
MPHASIS 2863.7 2900
MUTHOOTFIN 3799.9 3800
NATIONALUM 279.6 270
NAUKRI 1346.8 1360
NBCC 110.55 112
NCC 156.7 165
NESTLEIND 1231.1 1240
NHPC 75.8 78
NMDC 77.47 77
NTPC 320.65 325
NUVAMA 7241.5 7200
NYKAA 244.75 255
OBEROIRLTY 1625.1 1640
OFSS 7770 8000
OIL 402 410
ONGC 232.52 237.5
PAGEIND 36200 37000
PATANJALI 531.3 540
PAYTM 1270.7 1300
PERSISTENT 6286.5 6300
PETRONET 268.8 278
PFC 336.4 355
PGEL 566.45 560
PHOENIXLTD 1789.2 1740
PIDILITIND 1449.6 1480
PIIND 3213 3300
PNB 119.35 120
PNBHOUSING 905.15 910
POLICYBZR 1793.7 1840
POLYCAB 7099.5 7200
POWERGRID 262.65 270
POWERINDIA 19315 19500
PPLPHARMA 169.9 180
PRESTIGE 1612.3 1660
RBLBANK 297.3 310
RECLTD 334.15 350
RELIANCE 1542.1 1540
RVNL 308.45 315
SAIL 129.61 132
SAMMAANCAP 152.67 155
SBICARD 832.7 870
SBILIFE 2000.8 2020
SBIN 976.9 970
SHREECEM 26015 26500
SHRIRAMFIN 865.2 850
SIEMENS 3155.2 3200
SOLARINDS 11897 12500
SONACOMS 491 500
SRF 3017.2 2950
SUNPHARMA 1785 1800
SUPREMEIND 3334.2 3400
SUZLON 52.18 54
SYNGENE 652.8 650
TATACONSUM 1182.1 1170
TATAELXSI 4991 5100
TATAMOTORS 0 320
TATAPOWER 380.25 390
TATASTEEL 170 170
TATATECH 646 670
TCS 3216.2 3200
TECHM 1577.9 1540
TIINDIA 2625 2700
TITAGARH 781.05 800
TITAN 3904.9 3880
TMPV 347.5 360
TORNTPHARM 3743.7 3750
TORNTPOWER 1289.2 1300
TRENT 4063.5 4200
TVSMOTOR 3645.6 3600
ULTRACEMCO 11529 11700
UNIONBANK 153.49 155
UNITDSPR 1443 1440
UNOMINDA 1246.2 1280
UPL 745.8 750
VBL 478.5 470
VEDL 573.9 550
VOLTAS 1384 1380
WIPRO 260.55 255
YESBANK 21.58 22
ZYDUSLIFE 920.05 930

Note:
Stock LTP > Max Pain Bearish Trend
Stock LTP < Max Pain Bullish Trend
Frequently Asked Questions

Max Pain, also known as the max pain price, is the strike price at which the maximum number of option contracts (both puts and calls) would expire worthless, causing the largest financial losses for option holders at expiration. This price point represents the level where option writers would experience the least payout obligation.

The max pain theory suggests that as expiration approaches, market makers and option writers may attempt to influence the stock price toward this level to minimize their payout obligations, making it a significant reference point for traders analyzing option expiration dynamics.

Max Pain is calculated by determining the total dollar value of in-the-money options at each strike price. Here's the step-by-step process:

  1. For each strike price: Calculate the difference between the current stock price and the strike price.
  2. Multiply by Open Interest: Multiply this difference by the open interest (number of contracts) at that strike for both call and put options.
  3. Sum the values: Add together the dollar value for put options and call options at each strike price.
  4. Repeat for all strikes: Perform this calculation for every available strike price in the option chain.
  5. Identify the maximum: The strike price with the highest combined dollar value is the Max Pain price.

This calculation helps identify the price level where option writers would face the maximum financial loss if the stock closes at that price on expiration day.

Traders can incorporate Max Pain analysis into their trading strategy in several ways:

  • Expiration Day Trading: As option expiration approaches, traders can use Max Pain as a potential support or resistance level, as market makers may attempt to push the price toward this level.
  • Option Selection: Understanding Max Pain helps traders choose strike prices that are less likely to be manipulated, potentially improving their option trade outcomes.
  • Risk Management: If a stock is trading far from Max Pain before expiration, traders can anticipate potential price movement toward this level and adjust their positions accordingly.
  • Market Sentiment Indicator: Comparing the current stock price to Max Pain can provide insights into market sentiment and potential price direction near expiration.
  • Hedging Strategy: Option writers can use Max Pain to identify strike prices where they might face the least payout risk, helping them structure more efficient hedging strategies.

Max Pain provides insights into potential stock price behavior, especially near option expiration:

  • Price Magnet Effect: If the stock price is significantly above or below Max Pain before expiration, there may be a tendency for the price to move toward Max Pain as expiration approaches, as option writers hedge their positions.
  • Support/Resistance Level: Max Pain can act as a psychological and technical support or resistance level, especially on expiration day, as it represents the price where maximum option value would be lost.
  • Volatility Indicator: A large gap between current price and Max Pain may indicate higher potential volatility or price movement as expiration nears.
  • Market Maker Activity: Significant open interest concentration around Max Pain suggests where market makers might have the most incentive to influence price movement through their hedging activities.

Note: Max Pain is a theoretical concept and should be used in conjunction with other technical and fundamental analysis tools, as it does not guarantee price movement.

Max Pain is a dynamic value that changes continuously based on several factors:

  • Open Interest Changes: As traders open and close option positions, the open interest at different strike prices changes, which directly affects the Max Pain calculation.
  • Stock Price Movement: As the underlying stock price moves, different strike prices become in-the-money or out-of-the-money, altering the dollar value calculations.
  • Time Decay: As expiration approaches, the time value of options decreases, but the intrinsic value calculations for Max Pain continue to evolve with price movements.
  • New Option Contracts: When new strike prices are added or when significant new positions are opened, Max Pain may shift to reflect the new distribution of open interest.

For accurate Max Pain analysis, traders should monitor it regularly, especially in the days leading up to expiration, as it can shift significantly as market conditions and option positions change.

Max Pain and Spot Price are two distinct concepts that serve different purposes in options trading:

  • Spot Price (Current Market Price): This is the current trading price of the underlying stock or index in the market. It represents the real-time value at which the asset can be bought or sold immediately.
  • Max Pain Price: This is a calculated theoretical price level based on option open interest data. It represents the strike price where option writers would face minimum payout obligations, not necessarily where the stock is currently trading.

The relationship between these two prices is crucial: when the spot price is far from Max Pain, traders may anticipate potential price movement toward Max Pain as expiration approaches. However, this is not guaranteed, and many other factors influence stock price movement.

No, Max Pain is not always accurate and should not be used as the sole indicator for predicting stock price movement. Here's why:

  • Market Forces: Strong fundamental news, earnings reports, or significant market events can override the Max Pain effect and drive prices in unexpected directions.
  • Institutional Activity: Large institutional trades, algorithmic trading, and other market participants may have different objectives than minimizing option payouts.
  • Limited Influence: While market makers may attempt to influence price toward Max Pain, their ability to do so is limited, especially in highly liquid stocks with strong directional momentum.
  • Multiple Expirations: Stocks often have options expiring on different dates (weekly, monthly), which means multiple Max Pain levels may exist simultaneously, reducing the predictive power of any single level.
  • Statistical Tool: Max Pain is best viewed as a statistical tool that provides context about option market dynamics rather than a guaranteed price target.

Traders should use Max Pain as one of many tools in their analysis, combining it with technical analysis, fundamental analysis, and market sentiment indicators for more comprehensive decision-making.

Max Pain becomes increasingly relevant as option expiration approaches:

  • Last Trading Week: Max Pain analysis is most useful during the final week before expiration, when option writers are actively hedging and the "pinning effect" (price movement toward Max Pain) is most likely to occur.
  • Expiration Day: On the day of expiration, Max Pain can serve as a key reference level, as market makers may attempt to keep the stock price near this level to minimize their payout obligations.
  • High Open Interest: Max Pain is more reliable when there is significant open interest concentrated around specific strike prices, as this indicates where option writers have the most exposure.
  • Low Volatility Periods: During periods of low market volatility, Max Pain may have a stronger influence, as there are fewer competing forces driving price movement.
  • Monthly Expirations: Monthly option expirations (typically the third Friday) often show stronger Max Pain effects compared to weekly expirations, due to higher open interest and more significant market maker involvement.

While Max Pain can be calculated at any time, its predictive value and practical application increase significantly as expiration approaches, making it particularly useful for short-term trading strategies focused on expiration week dynamics.